Last week, Apple announced its plans to return $100 billion in stock to investors over the next few years. The increase more than doubled Apple’s original capital return program of $45 billion. Quarterly dividend payments also increased 15%, or $3.05 per common share.

Apple has a huge cash pile, but despite that it will have to go into debt to finance a return program of this size. It’s the first time Apple has borrowed since 1996.

Reuters reported –

Apple took initial steps Monday for what would be its first debt sale ever, as the U.S. computer giant lays the groundwork for what would be one of the most anticipated bond sales of the year.

The company was to begin investor calls today led by Deutsche Bank and Goldman Sachs, a source familiar with the situation told IFR, and filed SEC paperwork for a debt offering.